Description: This paper reviews the life cycle of a typical pension plan, examines the issues relating to its funding, and proposes a new funding approach that tries to balance the various concerns. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: In this issue, we’re pleased to share with our members some recent nice activities and initiatives of AFIR- ERM on the risk management space. Please fi nd useful information in the article below from Michael Sherris, Chairman of AFIR- ERM Section.

Description: Cyber threats and their costs are a continuously evolving, moving target and a source of uncertainty.

Description: This article describes methodologies for detection and deterrence of Medicare fraud. It also describes the validation of PRIDIT for fraud detection in Medicare.

Description: Ways of closing the mortality protection gap, by leveraging some of the new technology, data and analytics to reduce the friction in the buying process.

Description: Article is a detailed discussion of the Risk Management and Own Risk and Solvency Assessment (RMORSA) Model Act that was recently approved by the NAIC and is being adopted by legislatures across the country.

Description: Response to Life Insurance 2020 Foresight – A Call for Essays. An essay stating the author’s vision for the future of the life insurance sector.

Description: When companies engage in risk management activities, they can be seen as modifying their distributions of future outcomes. Often, this takes the form of trading off a sure cost for a decrease in some potential risk of loss. Companies may carry out these activities with several goals in mind, such as reduction in earnings volatility or preservation of capital. This paper will demonstrate a method for evaluating possible strategies by dividing the effects on costs and risks into three tranches: earnings, impact and estate. The tranches can be associated with different interests of the various stakeholders. This trifurcation analysis can help to explain the risk-reward trade-offs of different risk treatment alternatives and can aid in risk-related decisionmaking.

Description: Read the August 2018 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Article suggests future steps with regard to this project and provides information on where to get the essays.